Prima pagină » English » IMF Approves First Review Of New Loan Deal With Romania, May Disburse EUR480M

IMF Approves First Review Of New Loan Deal With Romania, May Disburse EUR480M

The International Monetary Fund Board on Monday approved the first review of the precautionary up deal with Romania and will make the second tranche available, worth around EUR480 million, people close to the matter told MEDIAFAX.
IMF Approves First Review Of New Loan Deal With Romania, May Disburse EUR480M
Mediafaxfoto - MediafaxRadu Bostan
27 iun. 2011, 20:36, English

The IMF officials evaluated Romania’s performance in the first quarter, as well as reforms which the authorities have pledged to implement.

In March, Romania and the IMF signed a EUR5 billion loan agreement, successor to a larger EUR20 billion bailout package that ended in April this year. Under the new deal, the IMF will disburse Romania EUR3.5 billion, while the EU and the World Bank contribute with EUR1.4 billion and EUR400 million, respectively. However, Romania will access the funds only in case of economic distress.